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USD/CHF Bulls Are Back As Correction Ends
Technical Sentiment: Bullish Key Takeaways •Price broke above 0.9475, invalidating bearish configuration of lower highs; •U.S. Dollar posted strong gains against a basket of currencies; •Traders will target main resistance areas at 0.9590, followed by 0.9685. Greenback bulls showed signs of life on Tuesday, immediately after Existing Home Sales showed a larger than expected rise to 5.17M. Today’s price action post-CPI sealed the deal, as USD/CHF rallied into bullish territory, signaling a complete return of the main uptrend. Technical Analysis After four days of being stuck in rot, with choppy price action ... (full story)